In January 2010, there was a Historical Materialism conference in 
NYC that I unfortunately was unable to attend since the CUNY 
Graduate Center was not large enough to accommodate all the people 
who tried to register, including me. I guess that’s an auspicious 
sign of what’s happening politically even though I lucked out 
personally.

New School economist Duncan K. Foley’s talk Notes on Crisis and 
Social Change can now be read online. The abstract contains these 
intriguing words:

        Capitalist crisis is neither more nor less favorable than other 
periods of capital accumulation for the promotion of fundamental 
social change. Left-wing critics of capitalism owe their readers 
an account of what alternatives to capitalism they advocate.

Foley believes that “moments of capitalist crisis greatly excite 
left critics of capitalism”. I am not sure that this is the case, 
even though I have made a point of regularly sending news of the 
current crisis to the Marxism list on an almost daily basis. I 
don’t think that the crisis in and of itself will lead to action 
surely it will lead to a change in consciousness. That is already 
taking place as dissatisfaction with all branches of government 
reaches new depths. Whether that change in consciousness will lead 
to action is, of course, another story altogether. Considering the 
self-destruction of the revolutionary left in the 1980s and the 
sabotage of the Green Party in the more recent period, we are 
certainly coping with an unfavorable “subjective factor” to put it 
in Leninist jargon.

full article: 
http://louisproyect.wordpress.com/2010/03/25/responding-to-duncan-foley/
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